BTC has emerged from a phased independent market
Bitcoin can finally be said to have held its head high. Amid sharp fluctuations in the U.S. stock market, BTC has quietly climbed to $88,000. Its performance in recent times has far exceeded that of the S&P and Nasdaq. It is truly unexpected that it has developed such an independent trend.
The 1-hour K-line chart clearly shows the fierce competition between long and short positions. The price fluctuates at a high level for a long time, and the upper and lower shadows appear frequently. In this case, it is suitable for ultra-short-term long and short operations. Bitcoin is likely to break through the current fluctuation range. $88,200 has always been a price area where long positions are concentrated. Once this price is broken, the price is likely to rise rapidly to $91,000. If it is difficult to break through, there is a high probability that a deep correction will occur first. The target price of the correction is expected to be between $83,000 and $85,000, and then seek an upward breakthrough.
Ethereum has been weak recently, but the current price has high investment value. Its short-term price has reached the support range of $1530-1550. If this area is not broken, there is a high possibility of subsequent rebound. Therefore, you can pay attention to the price when it falls back to this support range again, and try to arrange long orders to seize the rebound opportunity.
Although the Bitcoin chip structure is solid and the support below $84,500 is strong, it is necessary to guard against the collateral adjustments caused by systemic risks when the macroeconomic outlook is unclear and downward expectations are intensifying. It is recommended to wait and see in the short term and focus on the stability of the key support areas on the chain.
From the support data, the range of $81,500-86,500 is still an important bottoming area, and the support strength of $84,500 has not weakened due to price fluctuations. However, some short-term investors have shown signs of leaving the market, while investors with holding costs between $93,000-98,000 have maintained stable positions and are not affected by short-term price fluctuations.
In general, Bitcoin still faces challenges in achieving a trend reversal, especially after the release of GDP data at the end of the month. However, the current Bitcoin price performance is indeed relatively strong.
Why does Bitcoin continue to rise?
Bitcoin is gradually becoming another safe-haven asset of choice after gold. Due to the lack of high-quality safe-haven assets in the market, on the one hand, gold liquidity is poor, and some investors believe that its price has peaked; on the other hand, Bitcoin's current valuation is still low, and multiple factors have prompted capital inflows to push its price up.
Let’s take a look at recent ETF data:
Data shows that Bitcoin ETFs received inflows of over $300 million last night, of which ARKB attracted over $110 million, highlighting the continued increase in institutional investors’ and high-net-worth individuals’ attention to Bitcoin.
From the 4-hour K-line trend, Bitcoin has formed a rebound trend. However, the 91,000-96,000 USD range constitutes a strong resistance level. With the current market momentum, it is difficult to effectively break through and stabilize in the short term, and the price needs time to fully adjust and accumulate momentum.
In terms of cottage
Big news! Paul S. Atkins officially takes office as the 34th Chairman of the U.S. SEC. It is worth noting that he is extremely positive about digital assets. He has served as co-chairman of the Digital Chamber of Commerce Token Alliance since 2017 and pays close attention to the crypto field.
In the current cryptocurrency market, 9 altcoins and 4 meme tokens have submitted spot ETF applications. Among them, altcoins include SOL, XRP, LTC, ADA, AVAX, APT, SUI, MOVE, TRX; meme tokens include DOGE, TRUMP, BONK, PENGU.
A careful analysis of the altcoins that have applied for spot ETFs shows that SOL, XRP, LTC, ADA, and SUI are called "American coins". These project teams either have abundant American resources or are American project parties themselves. AVAX, APT, MOVE, and TRX belong to WLFI's investment portfolio.
Usually, the application of cryptocurrency spot ETF means that traditional capital has a strong interest in the token, and it is believed that a large number of traditional investors will buy it in the future to promote the application. Once approved by the SEC, it means that the token complies with the US regulatory system. It can be said that after the spot ETF is launched in the United States, the crypto asset is more compliant worldwide and gradually becomes a mainstream asset, which has a far-reaching impact on the development of the entire cryptocurrency market.
There is a high probability of good news in the future, and the currencies that have submitted spot ETF applications
Mainstream altcoins: SOL, XRP, LTC, ADA, AVAX, APT, SUI, MOVE, TRX
Mainstream MEME coins: DOGE, TRUMP, BONK, PENGU
Currently, the United States has only approved spot ETFs for Bitcoin and Ethereum. Since the new chairman of the U.S. Securities and Exchange Commission (SEC) will not take office until April, the approval results of other crypto asset spot ETFs are difficult to determine in the short term and will still take some time to wait.
Judging from the on-chain data, MEME coins are still a hot target for speculation in the market. The prices of many MEME coins have fallen back to the initial level. If the altcoin market starts, those MEME coins with good on-chain liquidity and hot speculation in the market in the early stage are expected to rise. For small capital investors, it may be a good opportunity to ambush some MEME coins that have seen large gains in the early stage and deep declines recently, such as PEPE, PNUT, DOGE, PENGU, etc.
Let's talk about the news time nodes to pay attention to this week
Federal Reserve Vice Chairman Jefferson will speak at 21:00 on Tuesday. This is the most critical moment to see whether officials will stand on Powell's side or lead Trump.
The G20 meeting on Wednesday will mainly focus on discussing the economy, so the market will definitely have some reaction.
The Federal Reserve’s Wedge Paper will be released at 2:00 a.m. on Thursday. There will also be uncertainties in this period of time, and there may be some major changes.
The current market trend is still in the rebound stage. To achieve a trend reversal, the key lies in rebuilding market confidence. As a market weathervane, Bitcoin plays a decisive role in stabilizing confidence.
The current market concerns are mainly focused on Trump's policies, especially the uncertainty caused by tariffs. If Trump's policies remain stable in April, the market will gradually start to speculate on the expectation of a rate cut in May. Once the rate cut is implemented in June, these predictable benefits will be gradually released, activating market vitality.